The scope of our recent study on the “Polyurea Coatings Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Raw Material, Type, Technology, and Application” consists of the factors fueling the growth of the market, revenue estimation and forecast, analysis of market share, and the identification of significant market players and their key developments.
The polyurea coatings market size is expected to grow from US$ 681.10 million in 2022 to US$ 1,173.44 million by 2028; it is estimated to register a CAGR of 9.5% from 2022 to 2028. The polyurea coatings market growth is attributed to the increasing construction activities. The market is highly competitive due to the presence of many regional and global players. Players compete based on product quality, product differentiation, and price. Market players are adopting different strategies to stand out as strong competitors in the market.
Based on raw material, the global polyurea coatings market is bifurcated into aliphatic polyurea and aromatic polyurea. The aliphatic polyurea segment is expected to register a higher CAGR during the forecast period. Aliphatic polyurea is a polymer material that has no aromatic structures. Polyurea coating is essential in building and industrial applications. Owing to the chemical structure of the polymer material in aliphatic polyurea, it is flexible and rigid. Therefore, aliphatic polyurea is largely used as an additive for different products to get a durable finish. This material is most commonly used for sealants and coatings intended for outdoor use. Aliphatic polyurea systems are high-speed, 100%-solid systems based on primary and secondary amines with gel times of some seconds due to their high reaction rates with the isocyanate functions of the prepolymers.
The global polyurea coatings market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest revenue share of the global polyurea coatings market in 2022. Major factors driving the polyurea coatings market in North America are the increasing use of polyurea coatings in residential and nonresidential construction activities, growing construction industry, and the presence of prominent players in the region.
Impact of COVID-19 Pandemic on Polyurea Coatings Market
Many economies were adversely affected due to the impacts of COVID-19 pandemic. COVID-19 outbreak created a temporary distortion in the operational efficiencies of industrial bases. During the peak period of the outbreak, the construction of buildings was negligible across the world due to the shortage of laborers and the disrupted supply chain of raw materials. However, the global building & construction sector revived with the resumption of operations in 2021, which positively affected the polyurea coatings market. Further, the surge in construction activities in various countries bolsters the demand for polyurea coatings.
The report includes the segmentation of the global polyurea coatings market as follows:
The global polyurea coatings market is segmented on the basis of raw material, type, technology, application, and geography. Based on raw material, the market is bifurcated into aliphatic polyurea and aromatic polyurea. Based on type, the global polyurea coatings market is bifurcated into pure polyurea and hybrid polyurea. Based on technology, the market is segmented into spraying, pouring, and hand mixing. Based on application, the global polyurea coatings market is segmented into building and construction, transportation, industrial application, and others. By geography, the global polyurea coatings market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America polyurea coatings market is further segmented into the US, Canada, and Mexico. The Europe polyurea coatings market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific polyurea coatings market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America polyurea coatings market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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